JD Sports in talks to acquire JJB
JD has confirmed it is in the early stage of discussions with struggling retailer JJB.
Sales negotiations are in progress between JD Sports Fashion and its troubled high street rival JJB Sports.
JD is attempting a takeover bid of the retailer and has confirmed it is in "early stage discussions" with the board of JJB.
The latter sportswear retailer has been struggling for some time, with shares falling by 80 per cent in the last 12 months, according to the Financial Times.
A merger of the two brands would create one of the biggest high street chains in the UK, but both were quick to emphasise a deal is yet to be finalised, with JJB stating: "The highly preliminary nature of these discussions is such that there can be no certainty that any offer will be made or as to the terms of any offer."
JD Sports recently announced the acquisition of Champion Sports Holdings, which chairman Peter Cowgill said would hopefully boost the brand's presence in the Republic of Ireland.